This is the most stupid move of the government of India. It infact is not the MIN number, but shows the Minimum intelligence of the government. Why does not the government deviate from its philosophy of SARAL, or simple?
Somebody tell me how having another number MIN checks the flow of black money into the data. For all financial transactions government should use PAN. (A single unified number which helps government keep track of taxes, income, and high value purchase/sale) Why cannot PAN be used to keep track the mutual fund investment of an individual?
Indian TAX laws, and controls are already the most complicated on this planet. Lets not make it any more complicated.
e-Nagar
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